SMSF Setup

SMSF Setup Process

SMSF accounting services for businesses

Once you have decided to proceed with an SMSF Setup please reach out to our friendly team where we are able to assist you from start to finish.

The steps required to complete an SMSF Setup include:

  • Choosing the name you would like, for example, the Cooper Super Fund. This name does not need to be unique but the ATO may choose not to register it if they feel it contains swear words and the like.
  • Choose the name for the corporate trustee, this is the company that exists to manage the super fund. It does require a unique name and we also recommend something obvious such as Cooper SMSF Pty Ltd. Remember you will need to check on ASIC if the name you would like is available.
  • We will then provide you with a form to complete which will capture the personal details we need to complete your SMSF setup. These need to be matched with a photo ID, such as a passport or driver’s licence, to pass the verification of identity checks.
  • Clients who are not directors of other companies will need to apply for a Director’s Identification Number (DIN) via the Australian Business Registry Services. This is a government mandated requirement designed to cut down on phoenix operations as well as identity fraud.

Once these steps are completed, we are able to:

  • Work with the SMSF lawyers to complete the legal documents including the SMSF Deed, corporate trustee’ constitution and registry, and the optional binding death nominations for you to consider.
  • Organise the compliance documents including trustee minutes, member applications, ATO trustee declaration forms, and a template for an investment strategy for the trustees to complete.
  • Once everything is signed, we apply for your ATO Registrations. These are usually instant but, in some circumstances, the ATO can choose to investigate the application further and this will delay the process. There is absolutely nothing that can be done to expedite these, although delays are quite rare. Checkout the ATO website for more information about registration application delays.

The final steps include:

  • Once the ATO registrations are available you will be able to set up a bank account for the fund. There are no restrictions on what bank you are able to use for the SMSF.
  • Once setup, we can prepare and submit rollover paperwork for any existing superannuation accounts you would like to roll over into your new SMSF.

What does an SMSF Setup Cost?

The total cost of setting up an SMSF Setup is $2,000+GST. The establishment fee is all inclusive of the activities laid out in the process above. For a detailed breakdown please see  our SMSF Pricing page.

Corporate Trustee Benefits

For SMSF setups, we always recommend corporate trustees as they have numerous long term benefits for the members, including:

  • Administrative ease of not having to change trustees on every piece of investment paperwork if one member of the SMSF dies or decides to leave to fund voluntarily such as in the case of divorce. This extra paperwork may seem trivial at first but working with a grieving family member needing to sign a large number of changeover documents is both expensive and stressful at a time in someone’s life where they least need further paperwork.
  • Super funds cannot exist with a single individual trustee. Therefore for single trustee funds they must use a corporate trustee to be legally compliant. In the case of a fund with two individual trustees this means the death of a trustee it will render the fund non-compliant if only one spouse is left as trustee against causing unnecessary issues.
  • When new members, such as adult children, join the fund then there is no need to rename investments, etc.
  • The cost is minimal as ASIC provides a discounted rate for corporate trustees of self managed super funds as special purpose companies which is currently $56 per annum.
  • Due to these many benefits, combined  with a trivial cost, we currently have no clients acting as individual trustees of their SMSF, and it is not an area we look to support.

Contact Us

 If you’re interested in learning more about our how we can help with your SMSF Setup please reach out for a confidential quote. Simply submit your details and one of our friendly team will be in touch as soon as possible.

Contact Us


Do you need help with an SMSF Setup?

Give us a call on 1300 392 544 or get in touch online.